AFG data handed to brokers last week shows that the bank appeared to be taking, on average, far longer to approve mortgages than many of its major competitors.
ANZ is taking between double and triple the time to approve home loans as other major banks and Macquarie, according to broker data, despite substantial investment aimed at catching up to its larger rivals.
Commonwealth Bank and Macquarie did not have data in the conditional loan data set, but it did show CBA approves unconditional loans in 5½ days and Macquarie in just over four days. “The Australia Retail Division faced into ... one of the most competitive environments across both home loans and household deposits but with capability and capacity restored in our home loan business, the division delivered above system home loan growth,” Mr Elliott said on May 5.
“We see the household sector as the most challenged ... Retail banking makes up less than 30 per cent of group [profits] at ANZ,” he said. “ANZ also benefits from its largest exposure being in institutional banking, which has the best tailwinds and a robust deposit franchise.”
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Three Britons confirmed dead in Egypt boat fireThree were among group of diving enthusiasts reportedly on six-day stay onboard boat when fire broke out
Read more »
Heartbroken Hunter Valley bus driver repeated two words while in custodyThe driver at the centre of the fatal bus crash in the New South Wales Hunter Valley broke down while in police custody, telling 'anyone who'd listen' of his remorse before he was later granted bail.
Read more »
The pleasure principle: is a little bit of indulgence the secret to success?The latest research shows delayed gratification is not always a guarantee of wellbeing – carefully planned moments of pleasure can be hugely beneficial
Read more »
PwC super fund ban points to more corporate painOPINION: The four big superannuation operators’ rejection of future contracts with the accounting giant shows how the tax leak scandal can spread through business.
Read more »